Seven racetracks in England plan to link ten Group 1 races in a point-based series that will offer a $3.98-million bonus fund and crown the country’s horse of the year.

The Sovereign Series will begin in 2010 and include the Two Thousand Guineas (Eng-G1) at Newmarket, Juddmonte Lockinge Stakes (Eng-G1) at Newbury, Epsom Derby (Eng-G1), Prince of Wales’s Stakes (Eng-G1) at Royal Ascot, Eclipse Stakes (Eng-G1) at Sandown, King George VI and Queen Elizabeth Stakes (Eng-G1) at Ascot, Sussex Stakes (Eng-G1) at Goodwood, Juddmonte International Stakes (Eng-G1) at York, Queen Elizabeth II Stakes (Eng-G1) at Ascot, and Emirates Airline Champion Stakes (Eng-G1) at Newmarket.

An average of around $600,000 will be added to the purse of each race. The bonus fund will be split between the series’s final leader, runner-up, and third-place finisher.

Racing UK, a subscription television channel owned by 30 racecourses, will promote and manage the series and organize broadcast and multi-media rights.

“Horseracing is one of Britain’s great sports but is faced with increasing competition from other sports and leisure activities, so racing needs to evolve and appeal to a wider audience,” said Simon Bazalgette, executive chairman of Racing UK and chief executive designate of the British Jockey Club. “We believe the Sovereign Series will capture the imagination of a new generation of sports fans who have never before been interested in racing.

“By linking Britain’s best flat races into a season-long competition, and transforming the viewer experience both on and off the course, the Sovereign Series will strengthen consumer interest in the sport and create a new proposition for broadcasters and sponsors.”

America’s Thoroughbred Owners and Breeders Association proposed a similar series in 2002 that would have linked Grade 1 races leading up to the Breeders’ Cup World Championships and offered as much as $25-million in bonuses. Dubbed the Thoroughbred Championship Tour, the series never got off the ground.

Last year, Breeders’ Cup Ltd. launched the Breeders’ Cup Challenge series that offers automatic qualification for the World Championships but no financial incentives.